CCH Audit Automation

If it’s not managed properly, audit can be a risky business for practitioners like us.

The International Standards on Auditing lay down the approach

we have to take, particularly in relation to control, fraud and risk,

so we need to make certain that our staff are following correct

procedures at all times.

The ISAs mean we have to organise and manage paperwork like

never before so that the documentation we generate will stand

up to quality inspection and legal challenge. This is difficult when

an audit generates so much paper. If we could automate the

paperwork it would make audits more efficient and easier to

manage, as well as saving valuable office space.

Every client has different requirements, and every auditor has

a different approach to the work, so a computer-based system

would have to offer programmes and documents that can be

easily customised. And it would have to help us make a profit

from our audit work!

auditfacing today’s challenges

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CCH Audit Automationthe solution from Wolters Kluwer

Automate the audit process for quality and efficiency

Once the audit process is automated, the time required to plan, customise and document the audit is dramatically

reduced, work is of a consistent quality and easier to manage. The current year’s files provide a template for future

years and staff time is used more efficiently.

n A complete solution – CCH Audit Automation covers the entire process of performing an audit, from

engagement to sign-off.

n Immediate benefits – Full automation improves the quality, efficiency and consistency of audits.

n Time saving – Once a client has been set up, the balance forward process significantly reduces the setup

time for subsequent years.

n Instant summary – CCH Audit Automation enables you to continually monitor progress by displaying a

summary of outstanding tests and checklist questions and a list of documents that still have to be reviewed.

n Smart selection – During planning, sections and standard procedures that are not applicable are

automatically removed.

n Accounting links – CCH Audit Automation links to all major accounts production systems including

CCH Accounts Production. Trial balances can be imported and used to drive the production of audit

programmes, preliminary analytical review information and materiality.

n Audit journal tracking – As the journals are agreed with the client, the draft accounts and lead schedules

are automatically updated to provide full audit journal tracking.

CCH Audit Automation guides you through the entire audit process

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Reduce paper and increase quality and efficiency

Manual audits create a lot of paper which uses valuable office space, costs money to store and takes time to file

and retrieve. Paperless working reduces the cost, helps to improve quality and makes information easier and quicker

to find.

n Savings – CCH Audit Automation makes the entire audit process paperless, saving staff time, office space and

money.

n Secure authorisation – During the audit process, checklists and programmes are completed on screen and

working papers, comments and notes can be added. Paperless working ensures that nothing is ever misplaced.

n Multi-user access – Any number of staff can work on a single client simultaneously, creating working papers

and signing off tests and questions. They can download sections of the audit pack onto their own laptops,

merging the results back into the main file on completion.

n Templates – Working papers can be based on standard templates, using the in-built word processor, Microsoft

Word, Excel or other third-party applications.

n Automatic indexing – All documents generated within the system are automatically indexed and listed on

screen, making them easy to find and use. Hyperlinks can be created to documents to make the review process

quicker and easier.

Keep everything together and instantly to hand

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Identify, manage and minimise risk

CCH Audit Automation has been providing a framework to carry out risk-based audits since 2005. The software

helps you to identify and record risk at every stage in the audit process.

n Compliance – CCH Audit Automation provides a framework that is fully compliant with the International

Standards on Auditing, including the latest Clarified ISAs.

n Evaluation – Risk analysis tools allow you to evaluate risks in an ISA-compliant manner. By identifying and

recording significant business risks, the audit procedure is intrinsically linked to risks and the reviewer gets

a full picture of the results of the audit work.

n Analysis – Powerful analytical tools allow you to identify possible problem areas by reviewing calculations

and comparing trends. Based on your assessment of the risks, further tests can be added as necessary.

n Error reduction – No step in the process can be signed off until all tests, questions and notes have been

answered and reviewed.

n Automatic quality control – Sophisticated quality control procedures are built into every stage of the

audit process. For example, planning can’t be signed off until all significant risks have been mitigated and

the audit file itself can’t be signed off unless all notes have been cleared.

Record and review test results

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Choose a way of working that suits youEvery client has different requirements, and every auditor has a different way of working. It’s easy to adapt and

customise documents and programmes and to save these changes for future use.

n Customisation – Standard audit programmes represent the minimum work that has be done. Tests can be

added or deleted according to the specific requirements and risk profile of the client.

n Test pool – Optional tests can be drawn from an extensive pool of possible audit tests, making it easy

to create appropriate audit programmes for each client.

n Flexible – Accounts disclosures and other checklists are customised to suit the requirements of the case.

Create an audit programme for each client

Select your audit methodology

Select one of our standard methodologies – CCH, PCAS or Mercia – or automate your own. The choice is yours.

n Audit methodologies – Master packs allow you to use established audit methodologies such as PCAS

and Mercia.

n Standard templates – The master packs include a full range of standard templates and file structures

for each type of assignment.

n Practice preferences – Templates can be customised and adapted to suit your own personal preferences,

or you can automate your own audit methodology.

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auditcustomer perspectives

An automated system helps to

reduce the risk that something can

be overlooked because everything

has to be ticked and signed off

properly. You can tell at a glance

what’s been done and what’s still

outstanding; from a management

and control point of view, that’s

very useful.”Wendy Bambrick

Mercer & Hole

Despite the fact that ISA-based audits

should be more time consuming,

we’re actually spending less time on

our audits now than we did on pre-ISA

audits. That’s meant a considerable

time saving overall, which has had a

significant impact on the profitability

of our audit work.”Maurice Frost

Richard Place Dobson

The skills you need to conduct

an audit don’t really change

– you still have to have that

professional scepticism – but

the software has helped us

modernise and become more

efficient.”Ian Thomas

Broomfield & Alexander

Reducing the amount of paper

involved in the office has

allowed us to become more

efficient on the audit which

means we can focus on the

bits of the audit that really

matter.”Tim Neale

Kirk Rice

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CCH Centraldelivering a competitive advantage

The CCH software suite provides tax and accounting professionals with the tools

they need to serve their clients and to manage and grow their own businesses.

At the heart of this integrated software suite is CCH Central which combines

information from multiple applications on customisable ‘home pages’.

CCH Central redefines the meaning of

‘integrated software’. Data from across

the practice can be extracted, reported on

and used for CRM, business development

and practice management.

The intuitive, browser-style interface

makes it easy for everyone – even

occasional users – to use the software.

Because CCH Central operates across

the entire software suite you only have

to learn a function once to be able to

use it anywhere.

Data management

CCH Central eliminates wasted effort and eradicates errors with a single, central database so you only have to enter and update information in one place. And because CCH Central works across your software suite, you get a complete picture of your clients and your practice without constantly swapping between applications.

Reporting

Using CCH Central Reporting, even non-technical users can construct complex reports, simply by dragging and dropping fields. Data can be drawn from multiple CCH applications and presented in a single report. Simplified cross-client and cross-application reporting enables rapid data mining, opening up new markets and opportunities.

CRM and business development

CCH CRM powered by Workbooks is integrated with CCH Central so you can grow your practice and engage with your clients using the information and skills you already have. The cloud-based CRM system improves the efficiency of the entire marketing and business development process, from running events and capturing web queries to managing your new business pipeline and measuring the return on your marketing spend.

Managing KPIs

CCH KPI Monitoring enables you to manage business-critical events, deadlines and tasks occurring across all your applications. When a trigger condition – such as overdue information, excessive WIP or a completed tax return – is met, the software sends out an alert email which can include a report on the exact status of the key performance indicator being monitored. You can also use it to automate the production and distribution of regular practice reports.

Workflow

CCH Workflow allows you to manage tasks across your entire software suite. Workflows can be triggered by an event – such as setting up a new client – or by the completion of another workflow, and can be extended to interact with third-party systems. CCH Workflow helps you monitor deadlines, avoid resource bottlenecks and focus on managing end-to-end client relationships rather than just individual jobs.

Wolters Kluwer is one of the world’s largest providers of tax, accounting and audit

software, information and services.

As a global market-leader with annual revenues of over €3.5 billion, operations

in 40 countries and more than 18,000 employees worldwide*, our software,

information and services deliver smart tools, vital insights, timely training and

the guidance of subject-matter experts.

In the UK our products and services – supplied through the CCH and Twinfield

brands – support more than 20,000 professionals. We work hard to help you

improve efficiency and reduce compliance risks so you can use more of your

time to build stronger relationships with your clients.

The Wolters Kluwer difference

97% of the top 100 accountancy firms use a Wolters Kluwer product

54% of FTSE 350 companies use a Wolters Kluwer product

*Revenue in 2013 €3.565 billion. Other figures from the Wolters Kluwer annual report. Customer numbers based on internal research, November 2014.

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www.cch.co.uk/software

cchsoftware@wolterskluwer.co.uk

Find out more about CCH Audit AutomationFor more information about the CCH software suite:

Wolters Kluwer (UK) Limited. Registered in England and Wales, No 450650, VAT No. 710 9357 45. Registered Office: 145 London Road, Kingston upon Thames, KT2 6SR, United Kingdom.

Call: 0844 561 8181Email:

Visit: www.cch.co.uk/software

cchsoftware@wolterskluwer.co.uk